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Estate Planning Protection

Why Estate Planning Safeguards Your Family & Your Assets

Nearly everyone can achieve greater control of their legacy with an estate plan customized to meet your individual needs – there is no such thing as an estate-planning template. A seasoned estate-planning expert can give advice on your current and future goals avoiding potential complications later on for your heirs. Establishing how your assets and affairs will be managed ensures protection of your loved ones and your wealth from a variety of threats and risks.  

1)  Protect your Beneficiaries

The beneficiaries of your hard-earned assets may be exposed to a variety of perils that includes creditors, liability claims, or financial mismanagement.   It’s imperative to consider more than just who receives your assets, but when and how your portfolio will be distributed.  Creating a discretionary trust will set the rules and conditions for disbursement. 

2)  Protect your young children

As a parent, your child’s safety and happiness is your primary consideration.  That includes preparing for the unthinkable in a worst-case scenario.  If you’re a parent of small children you must ensure they are cared for properly should something happen to you.  Without a will that names their guardians, the courts will decide who raises your children.

3)  Protect your heirs from unnecessary taxes

Proper estate planning can considerably reduce the burden of estate and inheritance taxes on your loved ones.  Uncle Sam’s bill could be significant if you don't put measured strategies in place now.   Existing trusts should be reviewed annually to determine if changes are needed as a result of new or updated tax laws.

4)  Protect your family from fighting

Family dynamics are already complicated, and adding money to the mix can be explosive.   An estate plan stops trouble before it starts by ensuring that your assets are handled, divided, and managed in the way that you intended. It’s also critical to plan for an orderly transfer of assets for unforeseen circumstances such as incapacitation.  

5)  Protect your legacy

Without a will, state law will determine what happens to your property, bank accounts, assets, and even your children.   This may lead to long court battles and financial hardship for your loved ones.  By understanding your objectives and assessing all the potential risks to your assets, an estate plan can help to safeguard your interests, your family, and your future.

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